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S/R Emini Journal
- Thread starter 4re
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Quote from candeo:
Thank you for your answers about options/Eminis. I don't think time decay is an issue though with options for your kind of trading.
Yeah, but Slippage and Commisons are.
But if you can seriously scalp 2 pts (or the options equivalent) using options "more power to you" while trading "off the floor" that's great.
As far as your other questions, please read the earlier posts.
(Not for nothing, I personally agree with you about the getting 2 pts and moving your stop to breakeven point, because I'm greedy and I like to take advantage of what the market is going to give me).
Best,
Jimmy
Quote from candeo:
Thank you for your answers about options/Eminis. I don't think time decay is an issue though with options for your kind of trading.
I have enjoyed this thread very much, thank you 4re. A couple comments/questions:
- I think your risk/reward could be greatly improved, and thus your expectancy. You obviously have an amazing winning rate but I don't think it is optimal to have your profits at the same level as your risk (2 points). Why don't you use a trailing stop once you are profitable so you can still ride the trends? For example after you have reached 2 points in profit you could set your stop to previous low using 3 min candles. Or take 1/2 off and let the rest ride with this trailing stop. Just seems like you are leaving a lot of money on the table and not taking really advantage of the "let profits run, cut losses short" rule.
- Your winning rate has been amazing lately because the market has been extremely volatile. There has not been many "false breakouts" but mainly big intraday trending days. I wonder how the system does in a churning market, where S/R are constantly challenged and price then goes back to the trading range. I think you've been trading it for a long time now, so would love to hear if your results have been that good before. Of course, improving your risk/reward would take care of bad periods.
- I have been trading options for more than 10 years and would like to start trading futures as well. How much do you pay per contract on the S&P? What is the leverage? How much money is 2 points/contract?
Thank you
I hear ya about the R/R. If you will look back I detail how I exit a trade and even why I do it this way. I just don't get that much time to sit in front of my screen. I actually enjoy getting in making my points and being done. Much more relaxing trading this way. My R/R goes up with the idea that one losing trade I can make up either that day or the next as detailed earlier.
For daytrading the S&P emini my broker requires $500 per contract in your account. So with 5K you can trade up to 10 contracts per day. Each contract pays $50 per point.
When I did options I did long term plays sometimes lasting 6 months. So time decay did matter to me.
4re
Quote from 4re:
Is anybody seeing this looks kind of bearish. Lets see which way it breaks.
4re
Looks kinda bearish, but until I get the 30/15/3 (or 60/15/5, or whatever floats your boat) on the other side of their 20 sma, with price making a run at 1263 (previously established Support) moving to the downside I can't do anything with that.
What I mean (and I got this from the book on poker playing), is that you're going to win some, lose some and have a lot of "folds" (in my case, breakeven trades).
So long as I have a formula for consistently determining what's happening in the market, I'm going to win A LOT moe than I'm going to lose.
... and lines and wedges ain't part of the formula (I like to KISS).
Jimmy
Quote from JimmyJam:
Looks kinda bearish, but until I get the 30/15/3 (or 60/15/5, or whatever floats your boat) on the other side of their 20 sma, with price making a run at 1263 (previously established Support) moving to the downside I can't do anything with that.
What I mean (and I got this from the book on poker playing), is that you're going to win some, lose some and have a lot of "folds" (in my case, breakeven trades).
So long as I have a formula for consistently determining what's happening in the market, I'm going to win A LOT moe than I'm going to lose.
... and lines and wedges ain't part of the formula (I like to KISS).
Jimmy
Yeah, that was a 15 minute chart so don't know when it will break out. I am always looking though. Especially after I am done for the day. No more trading for me today.
Quote from candeo:
You can get answers to most of your questions at the CME site.
Thank you for your answers about options/Eminis. I don't think time decay is an issue though with options for your kind of trading.
I have enjoyed this thread very much, thank you 4re. A couple comments/questions:
- I think your risk/reward could be greatly improved, and thus your expectancy. You obviously have an amazing winning rate but I don't think it is optimal to have your profits at the same level as your risk (2 points). Why don't you use a trailing stop once you are profitable so you can still ride the trends? For example after you have reached 2 points in profit you could set your stop to previous low using 3 min candles. Or take 1/2 off and let the rest ride with this trailing stop. Just seems like you are leaving a lot of money on the table and not taking really advantage of the "let profits run, cut losses short" rule.
- Your winning rate has been amazing lately because the market has been extremely volatile. There has not been many "false breakouts" but mainly big intraday trending days. I wonder how the system does in a churning market, where S/R are constantly challenged and price then goes back to the trading range. I think you've been trading it for a long time now, so would love to hear if your results have been that good before. Of course, improving your risk/reward would take care of bad periods.
- I have been trading options for more than 10 years and would like to start trading futures as well. How much do you pay per contract on the S&P? What is the leverage? How much money is 2 points/contract?
Thank you
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